USDX (USD Index)
U.S dollar index is on the path upward to continue the bullish movement. On the upside, the index will target to print a new higher high to confirm the continuation of the bullish trend. On the other hand, if the index starts moving lower then it might retest the 110.00 level. At the current time, there is no higher high printed yet which means a bearish reversal could become a sign of a long-term bearish reversal.
EUR/USD
EUR/USD trading is lower from the parity level and will target the 0.9500 support level. Traders will monitor the pair movement for now as a higher low printed near the current level could become a sign of a bullish reversal. If the pair could close above the parity level then traders will expect an upward continuation toward the 1.0339 level.
Today’s critical levels to watch:
Support: 0.9500
Resistance: 1.0000, 1.0339
GBP/USD
GBP/USD was mostly bearish after the rejection from the 1.1450 resistance level. The pair might continue lower to target the 1.05000 and parity level. Traders will continue to stick with bearish positions as long as the pair stays below 1.1450 and print lower low and lower high. On the other hand, a close above 1.1450 will indicate a bullish continuation toward the 1.2000 – 1.2200 area.
Today’s critical levels to watch:
Support: 1.0500, 1.0000
Resistance: 1.1450, 1.2000, 1.2100, 1.2200
USD/JPY
USD/JPY is mostly sideways near the top without a hint of the next direction. The pair will continue the consolidation movement and traders better await further reactions before deciding on entering major positions. If the pair start moving lower then traders will wait near 139.30 for a chance to enter long positions.
Today’s critical levels to watch:
Support: 140.00, 139.30, 135.19, 135.00
Resistance: 150.00
AUD/USD
AUD/USD continue the bearish movement today but managed to recover above the opening level. It seems the pair might start an upward movement to target the 0.6500 and 0.6700 resistance levels. As long as the pair continue printing new lower lows and lower highs, traders will continue to stick with bearish scenarios.
Today’s critical levels to watch:
Support:
Resistance: 0.6500, 0.6700, 0.6750, 0.6820, 0.7000